Money Laundering in Virginia is accomplished when a person knowingly conducts a financial transaction when the property involved in the transaction represents the proceeds of an activity that is punishable as a felony. If convicted under this provision, the crime is punishable by up to 40 years in prison and a fine up to $50,000.00. Alternatively, any person, who converts cash into negotiable instruments or electronic funds for another knowing the case is the proceeds of some form of activity which is punishable as a felony, and is compensated for such act is guilty of Class 1 Misdemeanor. A second offense is a class 6 felony. Va. Code § 18.2-246.3

Most financial crimes punishable at the state level fall under fraud or property crimes. Serious financial crimes are often prosecuted at the federal level and involve complex factual scenarios. An experienced criminal defense attorney should always be consulted if you are faced with an investigation or prosecution dealing with financial offenses.

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